CarCharging Acquires Beam Charging, New York City's Largest
Electric Vehicle Charging Service Provider

Consolidation of Electric Car Charging Networks
Establishes CarCharging as the Dominant Player in New York's EV Charging
Market

MIAMI BEACH, FL,--Feb. 28, 2013: Car Charging Group, Inc. (OTCQB:
CCGI) ("CarCharging"), a nationwide provider of convenient electric vehicle
(EV) charging services, announced the closing of the acquisition of Beam
Charging, LLC ("Beam"). Founded in 2010 and based in New York City, Beam is the largest EV charging
service provider in the New York City
metro area.

Together, CarCharging and Beam operate the majority of all EV charging
points throughout New York City, and have
existing agreements with Central Parking, Icon Parking, as well as Simon
Properties. Beam's partnerships with additional garage companies, such as
Garage Management Company, Sylvan Parking, and Imperial Parking, expands
CarCharging's current list of more than 45 strategic partnerships including
retail, multifamily residential and commercial property owners,
municipalities, and parking garage management companies. Beam provides
CarCharging with over 400 additional parking garages under contract in
New York City, and the combined entity is
positioned to provide the largest EV charging infrastructure to EV drivers
in New York and beyond. In addition to
CarCharging's nationwide network of EV charging stations, CarCharging and
Beam overlap in areas, such as Boston,
Massachusetts and Washington, D.C.,
and are now jointly expanding into Philadelphia,
Pennsylvania.

"As New York expands its environmental initiatives and aims to become a
national leader in the EV market, as announced by Mayor Bloomberg earlier
this month, we are proud to continue to serve as the leader in EV charging
services," said Michael D. Farkas, CEO of
CarCharging. "Through the consolidation of CarCharging and Beam's EV
charging network, we will be the dominant player in the New York EV
charging market, and we anticipate expanding even further."

With the acquisition complete, former CEO of Beam, Joseph Turquie, becomes the Chief Marketing
Officer of CarCharging. Mr. Turquie will be based in New York, and will contribute to CarCharging's
European operations.

"We are delighted to combine Beam's EV charging facilities with those of
CarCharging," said Joseph Turquie. "We are
confident that by merging the companies, we will be able to expand our
operations throughout the state, as well as grow the overall market."

Both CarCharging and Beam both utilize EV charging stations manufactured
by ChargePoint, which provide 240 volts with 32 amps of power
to quickly recharge an EV's battery. EV drivers can easily request
CarCharging's evCharge card online to initiate use and payment at any
intelligent CarCharging station. The CarCharging card also allows drivers
to use charging locations on the ChargePoint Network, the
largest national online network connecting EV drivers to EV charging
stations.

Users can pinpoint EV charging station locations using the CarCharging
map at Charging Stations . The ChargePoint mobile application
for iPhone, Android, and Blackberry phones also provides real-time charging
station location information with turn-by-turn directions.